Global Self-Driving Car Market Size By Application Type(Personal Transportation, Ride Sharing, Commercial Transportation), By Technology Type(Lidar, Radar, Camera & GPS), By Service Type(rental, Leasing & Subscription services), By Geographic Scope And Forecast
Global Self-Driving Car Market Size By Application Type(Personal Transportation, Ride Sharing, Commercial Transportation), By Technology Type(Lidar, Radar, Camera & GPS), By Service Type(rental, Leasing & Subscription services), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Self Driving Car Market size was valued at USD 21.22 Billion in 2021 and is projected to reach USD 73.95 Billion by 2030, growing at a CAGR of 22.75% from 2023 to 2030.
The introduction of new self-driving car technologies is anticipated to boost the growth of the worldwide self-driving car market. The use of self-driving cars is projected to increase during the projection period as a result of ongoing developments in semi-autonomous technologies including adaptive travel control, forward collision avoidance, and automatic parking. Â The Global Self Driving Car Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Self-Driving Car Market Definition
The global self-driving car market refers to the market for autonomous vehicles that can operate without human intervention. Self-driving cars use various technologies such as cameras, sensors, and GPS to navigate and make decisions on the road. These vehicles are designed to operate safely and efficiently on public roads, highways, and freeways, without the need for human input.
The self-driving car market is expected to revolutionize the automotive industry by providing a safer, more efficient, and more convenient mode of transportation. The technology has the potential to reduce traffic accidents, lower transportation costs, and improve access to transportation for individuals with mobility issues.The market includes various types of self-driving cars, such as fully autonomous vehicles and semi-autonomous vehicles. Fully autonomous vehicles are capable of operating without any human intervention, while semi-autonomous vehicles require human intervention in certain situations, such as navigating through complex road conditions or unexpected obstacles.
Global Self-Driving Car Market Overview
Hey, you know how artificial intelligence, machine learning, and all those cool sensors like RADAR, LIDAR, GPS, and even just plain old computer vision have been getting way better lately? Well, that's what's allowing car companies to build self-driving cars! While there are different levels of how "self-driving" a car can be, a bunch of companies are working on super-smart control systems that can understand what the car sees and avoid accidents, maybe even read those pesky DOT signs. Apple, for example, is planning to launch an electric self-driving car in 2029. And there's this really innovative company called Pony.ai that's creating some of the most advanced AI tech for these cars. They're aiming to completely change how we get around by making totally driverless smart cars. One company even claims self-driving cars will be safer, more affordable, and way more efficient.
The introduction of new self-driving car technologies is anticipated to boost the growth of the worldwide self-driving car market. The use of self-driving cars is projected to increase during the projection period as a result of ongoing developments in semi-autonomous technologies including adaptive travel control, forward collision avoidance, and automatic parking. Technology advancements in artificial intelligence, blockchain, and cloud computing have made it possible for much smaller, more specialized companies to work with well-known automakers to create more odd self-driving cars.
One of the top producers of camera systems for autonomous and self-driving automobiles, Robert Bosch, has created the Al-based camera MPC3 for these vehicles. The MPC3 represents a significant advancement towards autonomous or self-driving cars, one primarily driven by artificial intelligence. The Bosch team developed the camera using a multi-path strategy. A software architecture that blends traditional image-processing algorithms with algorithm-driven techniques was developed by the company’s engineers and programmers, and it was then installed on a high-performance system-on-chip (SoC) with an integrated CPU. This allows for unmatched scene comprehension and trustworthy item recognition.
Global Self-Driving Car Market Segmentation Analysis
The Global Self Driving Car Market can be segmented into Application Type, Technology Type, Service Type and Geography.
Self-Driving Car Market Segmentation, Application Type
Personal Transportation
Ride Sharing
Commercial Transportation
Logistics
So, how's the self-driving market shaping up? Well, we can break it down by how people are actually using the techeverything from Personal Transportation (your everyday cars) to Ride Sharing (think Uber and Lyft), Commercial Transportation (like trucking), and even Logistics. This "self-driving segmentation" is all about figuring out what different users really need. After all, what someone wants from a self-driving car for their commute is pretty different from what a trucking company is looking for! For example, if it's for personal use, ADAS and a smooth ride are key. But for trucking? It's all about keeping costs down and getting goods delivered efficiently. The better we understand those different needs, the better we can tailor the technology to fit each specific area.
Self-Driving Car Market, Technology Type
Lidar
Radar
Cameras
GPS
The self-driving car market uses a few key technologiesLidar, Radar, Cameras, & GPS. Each has its own strengths and weaknesses, so companies are working hard to build self-driving cars that combine them for better safety and reliability. For example, companies like Waymo and Tesla are using AI in their self-driving cars. Cameras are also really important, allowing the car to "see" and recognize things around it. These cameras take pictures, and then clever machine learning figures out what's what – other cars, traffic lights, and even people walking. Again, companies like Tesla and Waymo are relying heavily on cameras.
Self-Driving Car Market, Service Type
Rental
Leasing
Subscription Services
Based on Service Type, the Market is divided into rental, Leasing & Subscription services. This segment includes self-driving cars that are used for ride-sharing and taxi services. Companies like Uber, Lyft, and Waymo are actively testing and deploying self-driving cars for this purpose. Each of these segments has unique requirements, challenges, and opportunities. Companies are focusing on developing self-driving cars that meet the specific needs of each segment.
Self-Driving Car Market By Geography
North America
Europe
Asia-Pacific
Middle east & Africa
Latin America
Okay, so when we look at the map, it seems like Asia Pacific is going to be the big winner in terms of market share, probably followed by Europe and then North America. Interestingly, right now, Europe actually holds the lead. What's fueling this whole self-driving car craze? Well, people really want a driving experience that's safe, efficient, and, let's face it, super convenient. Plus, you've got rising incomes in countries that are just starting to boom, and a whole lot of tough safety rules are popping up globally. Speaking of Asia Pacific, expect some serious growth there! A lot of companies that make the brains behind autonomous cars are teaming up with local partners in that region. Take China, for example – Baidu is a major player when it comes to providing the tech for self-driving cars.
Key Players
The major players in the market are Volkswagon, Toyota Motor Corporation, General Motors, Daimler AG, Nissan Motor Co. Ltd, Waymo, Ford, Zoox, Argo.ai, and Nvidia among others.This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis
Key Developments
In January 2020, Waymo launches a commercial autonomous ride-hailing service, Waymo One, in Phoenix, Arizona.
In August 2020, GM’s subsidiary Cruise receives a permit to test fully driverless cars on public roads in California.
In December 2021, Tesla releases its Full Self-Driving Beta software, which enables some autonomous driving functions, such as navigating city streets and making turns.
In March 2022, Hyundai and its subsidiary, Kia, announce an investment of $7.4 billion in autonomous driving technology by 2025.
Report Scope
STUDY PERIOD
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Volkswagon, Toyota Motor Corporation, General Motors, Daimler AG, Nissan Motor Co. Ltd, Waymo, Ford, Zoox, Argo.ai, and Nvidia among others.
SEGMENTS COVERED
By Application Type, By Technology Type, By Service Type and By Geography.
CUSTOMIZATION SCOPE
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